SBI share price rises today after upbeat Q4 results: Should you buy the stock?

SBI share price: Kotak Institutional Equities maintained a ‘Buy’ call on SBI with a target price of ₹950 apiece. What other brokerages said

Published on: May 10, 2024, 10:45:07 IST

By HT News Desk | Edited by Mallika Soni

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SBI share price today: The share price of State Bank of India (SBI) rose over a percent today (My 10) as the stock extended gains from previous session after the bank’s Q4 results. SBI reported its highest-ever quarterly net profit of ₹20,698 crore in the fourth quarter of FY24. The bank registered a growth of 24% from ₹16,694.5 crore in the year ago quarter and said that it expects its credit book by 14-16% in the current fiscal year. Asset quality of the bank improved during the March quarter as well owing to decrease in Gross NPA by 2.9% and fll in Net NPA by 6.1% QoQ.

SBI share price: Kotak Institutional Equities maintained a ‘Buy’ call on SBI with a target price of ₹950 apiece.

Emkay Global on SBI share price

Emkay Global retained a ‘Buy’ rating on the stock and raised SBI share price target to ₹950 apiece from ₹750 earlier. It said, “SBI logged a strong all-around show in 4Q, with robust credit growth at 16% YoY, healthy margins at 3.3%, and a strong 14% PAT beat."

Kotak on SBI share price

Motilal Oswal on SBI share price

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Motilal Oswal said that SBI reported a steady quarter with steady growth in revenues flanked by robust asset quality which aided the bank in maintaining strong control over provisioning expenses. Thr brokerage estimated SBI to deliver RoA and RoE of 1.1% and 18.5% in FY26 and maintained its ‘Buy’ call on SBI and raised the target price to ₹925 per share.

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HT News Desk
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